Anchor Investment Management LLC Purchases Shares of 200 GoDaddy Inc. (NYSE:GDDY)

Anchor Investment Management LLC acquired a new position in GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200 shares of the technology company’s stock, valued at approximately $31,000.

Other institutional investors have also recently modified their holdings of the company. Te Ahumairangi Investment Management Ltd lifted its position in GoDaddy by 86.8% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock worth $2,340,000 after buying an additional 6,974 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of GoDaddy by 7.0% during the third quarter. TD Private Client Wealth LLC now owns 8,197 shares of the technology company’s stock worth $1,285,000 after acquiring an additional 539 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of GoDaddy in the 3rd quarter worth approximately $314,000. Geode Capital Management LLC boosted its stake in shares of GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after purchasing an additional 84,550 shares in the last quarter. Finally, Vestcor Inc boosted its position in GoDaddy by 1,156.5% during the third quarter. Vestcor Inc now owns 31,249 shares of the technology company’s stock valued at $4,899,000 after buying an additional 28,762 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the sale, the chief executive officer now owns 348,956 shares of the company’s stock, valued at approximately $54,297,553.60. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Phontip Palitwanon sold 1,554 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the transaction, the chief accounting officer now owns 21,505 shares of the company’s stock, valued at $4,384,869.50. This represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,503 shares of company stock valued at $4,102,853 in the last quarter. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Finally, Robert W. Baird boosted their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.57.

GoDaddy Price Performance

GDDY stock opened at $206.78 on Friday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50 day moving average price of $180.63 and a 200-day moving average price of $160.44. GoDaddy Inc. has a 52-week low of $99.90 and a 52-week high of $210.30. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of 15.98 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.